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Metals Stocks: Gold gains on hope the Fed will lift rates slowly

Luke Sharrett/Bloomberg

Gold and silver futures gained Thursday after Federal Reserve meeting minutes issued a day earlier raised doubts about the speed and scope of interest-rate hikes, boosting the allure of holding precious metals.

December gold GCZ6, +0.61% gained $6.30, or 0.5%, to $1,355.10 an ounce. Gold initially settled lower on Wednesday, pulling back from nearly two-week highs and finishing below the closely watched $1,350 line. But prices gained in after-hours action and continued Thursday after the Fed minutes.

According to the Fed release, officials at the late-July meeting were relieved that their worst fears about the economy didn’t materialize.

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